09.09.2014 - Technical view

The price of EUR/USD continued to decline within the descending channel and has reached its lower boundary after breaking through the level of 1.2900. In case of correction, quotes can rise to the top of the channel and the resistance level of 1.2950. In the near future, the downward movement is likely to continue. Our medium-term outlook remains negative with a target of about 1.2800.

Nearest resistance levels: 1.2900, 1.3000, 1.3100, 1.3160, 1.3200, 1.3240, 1.3300, 1.3350

Nearest support levels: 1.2800

The price of GBP/USD continued rapid decline and dropped to the level of 1.6070. The closest target with further reduction will be psychologically important level of 1.6000. The potential of ascending correction now is limited by the limits of downward channel. In the coming weeks the negative trend is likely to continue. Reversal of the negative dynamics can begin only at the end of the next week.

Nearest resistance levels: 1.6200, 1.6300, 1.6400, 1.6450, 1.6535, 1.6600, 1.6670

Nearest support levels: 1.6000, 1.5500, 1.5000

The price of USD/JPY has broken through the upper border of the rising channel after it broke through an important level of 105.40. In case of correction, quotations may fall to 105.40. The closest objectives in case of further growth will be 107.00, 108.50 and 110.00. Our medium-term outlook remains positive and for the price trend change needed to break through the bottom of the channel and to consolidate below 104.70.

Nearest resistance levels: 107.00, 108.50, 110.00

Nearest support levels: 106,00105,40, 104.70, 104.00, 103.70, 103.00, 102.70, 102.20

The price of AUD/USD fixed below the level of 0.9340 and began to decline sharply. After breaking through the bottom of the channel, the price will soon reach a strong support level of 0.9240. In case of breaking of this level, the price will continue the downward movement with the objectives of 0.9000 and 0.8900. At the same time, there is a high probability of ascending correction with a target of about 0.9280.

Nearest resistance levels: 0.9330, 0.9400, 0.9440, 0.9500, 0.9600

Nearest support levels: 0.9240, 0.9200, 0.9100, 0.8900

The price of NZD/USD has reached the bottom of the channel and continues a gradual decline. Upward movement within the correction is possible up to the top edge of the channel and the level of 0.8340. In case of fixation above these levels, we recommend closing short positions and opening long ones with the objectives of 0.8425 and 0.8530. We maintain our negative view on the New Zealand dollar.

Nearest resistance levels: 0.8270, 0.8350, 0.8400, 0.8425, 0.8470, 0.8530, 0.8560, 0.8600

Nearest support levels: 0.8220, 0.8200, 0.8100

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